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Jul 2, 2018 at 10:45 AMJul 2, 2018 at 10:45 AM

In the beginning, the thought of achieving a long-term goal can be quite intimidating. Frequently, we’re so overwhelmed that we may overcomplicate the start of the process. This holds true if your goal is to win a coveted sports competition or plan for your retirement. Keeping things simple in the beginning is a great strategy, as you can always add more resources later.

Let’s do a back flip in time and visit 1976 Braintree, Mass. The olde towne was the embarrassment of riches that Bicentennial year. Along with its revolutionary history, a kid from Middle Street had the whole nation shedding tears of prideful joy. His name is Peter Kormann, a wicked pissah gymnast who won a bronze medal in the summer Olympics. He was the first U.S. Olympian to medal against the Soviets, an astounding achievement.

It all started in such a humble fashion. At the age of 11, he started training in Dave Ellis’ back yard on Adams Street. There was no fancy equipment or glitzy gymnasium, just a skilled coach and an eager student. Early on, Peter displayed a natural talent for tumbling and working the high bars. Of course, there were setbacks along the way, but Peter came up with simple, practical solutions. When the pommel horse broke, Peter rigged a fix with tools from Warren’s Hardware. If his energy ran low, he carb-loaded on fresh potato chips from Hunt’s. Lacking natural flexibility Peter took to jogging neighborhood streets in a wetsuit, then stretching afterward. Passing motorists gave this would-be Jacques Cousteau puzzled looks, but Peter was unfazed. He was making progress and nothing was stopping him.

The next stop was Braintree High, where Peter had access to more coaches and better equipment in the Hollis Gymnasium. Building on the fundamentals learned from Dave, Peter continued to shine. His family home was soon bursting with awards, trophies and accolades. A gymnastics scholarship to Southern Connecticut University followed, and that set him on the final trajectory that vaulted him on to the Olympic podium.

While the nation rejoiced, Braintree celebrated its favorite son. Peter became the Tom Brady of Braintree before the GOAT quarterback was even born. The Wicked Smart Investor and his Hollis Elementary School classmates felt privileged to use the same gym as Peter. And it all started in an Adams Street backyard.

A sizable retirement nest egg can start with humble beginnings too. While many of today’s youngsters starting out in the workforce are burdened with student debt and astronomical housing costs, they simply have to start saving money. A decent start would be saving a small amount each paycheck in your company 401k or an IRA. Don’t overcomplicate things; invest in a low-cost, broadly diversified mutual fund consisting of mostly common stocks. Sticking to this strategy can reap a substantial amount before you know it. When you reach roughly $50,000 to $100,000, it makes sense to seek professional investment advice. But for now, just start saving and experience the magic of compounding growth.

Peter’s backyard routine has a great legacy. After the Olympics, he became the head gymnastics coach at Ohio State and now owns Yellow Jackets Gym in Middleton. His picture still graces the wall at Braintree High and he continues to inspire local gymnasts. Luke Smigliani, an ’18 Hanover High graduate with plenty of Braintree DNA, worked with Peter to improve his rings routine. This coaching was fruitful; Luke won a scholarship to Ohio State.

Remember, the longest journey starts with the first step. Start saving!

Chris Hanson is a South Shore resident and CPA specializing in financial planning at Lindner Capital Advisors in Hanover. He earned his BBA at the Isenberg School of Management University of Massachusetts and an MBA at Babson College’s F. W. Olin Graduate School of Business.